AAA: Gas prices tumble in Ohio

The average price of gasoline across South Central Ohio is 11 cents lower this week at $3.480 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: South Central Ohio Average: $3.480

Average price during the week of July 29, 2024 $3.592

Average price during the week of August 7, 2023 $3.460

The average price of unleaded self-serve gasoline in various areas:

$3.608 Athens$3.529 Chillicothe$3.330 Columbiana$3.504 East Liverpool$3.444 Gallipolis$3.479 Hillsboro$3.561 Ironton$3.425 Jackson$3.303 Logan$3.650 Marietta$3.338 Portsmouth$3.512 Steubenville$3.488 Washington Court House$3.553 Waverly

Trend Analysis:

The national average for a gallon of gas dipped three cents since last week to $3.47. The drop comes as Hurricane Debby has made landfall today in Florida but so far, has had no significant impact on oil production. Today’s national average is four cents less than a month ago and 36 cents less than a year ago.

According to new data from the Energy Information Administration (EIA), gas demand slid from 9.45 million barrels per day to 9.25 last week. Meanwhile, total domestic gasoline stocks fell from 227.4 to 223.8 million barrels. Gasoline production decreased last week, averaging 10.0 million barrels per day.

At the close of Wednesday’s formal trading session, West Texas Intermediate rose by $3.18 cents to settle at $77.91 a barrel. The EIA reports that crude oil inventories decreased by 3.4 million barrels from the previous week. At 433.0 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.

Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.

AAA East Central is a not-for-profit association with 70 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members. News releases are available at news.eastcentral.aaa.com. Follow us on Twitter and Facebook.